MNI BRIEF: EU Defence Bonds Only One Option To Fund Spend Rise

CANADA JAN RETAILS -0.3% VS FORECAST -0.4%, PRIOR +0.9%

MNI: Canada Feb Retails Rise After Jan Sees First Fall In 5M

MNI EM China Daily Summary: Friday, March 22

MNI China Press Digest Mar 22: Autos, Local Gov, Real-Estate

MNI: PBOC Drains Net CNY11 Bln Via OMO Fri; Rates Unchanged

EZ/UK T-Bill Calendar: Germany, France Auction Monday

MNI: BELGIUM MAR BNB BUSINESS SURVEY -10.4

Ex-Energy Import Price Deflation Continues

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI European Morning FI Technical Analysis 

22 September 2017
By Kyle Shortland
Please click on this link to access MNI's daily European FI Technical Analysis
Pdf - http://tinyurl.com/nhjogts
BUND TECHS: (Z17) Key DMAs Supporting For Now
*RES 4: 161.82 21-DA
*RES 3: 161.51 Hourly resistance Sept 15
*RES 2: 161.42 High Sept 18
*RES 1: 161.22 Hourly support Sept 20a now resistance
*PREVIOUS CLOSE: 161.01
*SUP 1: 160.98 Hourly resistance Sept 21 now support
*SUP 2: 160.66 Low Sept 21, 55-DMA
*SUP 3: 160.62 100-DMA
*SUP 4: 160.50 Low Aug 16
*COMMENTARY: The correction from 163.43 has seen the contract pressure 55 &
100-DMAs before bouncing a little Thursday. Bears need a close below 160.50 to
confirm a break of key DMAs, ending bullish hopes and hinting at a test of 2017
lows with below 159.58 confirming. The Bolli base (160.75) is the key concern
for bears. Bulls still need a close above 161.51 to ease bearish pressure and
above 162.15 to shift focus back to 162.89-163.43.
BOBL TECHS: (Z17) 55-DMA Supporting
*RES 4: 131.32 Low Sept 14 now resistance 
*RES 3: 131.27 High Sept 20 
*RES 2: 131.20 Hourly support Sept 20a now resistance 
*RES 1: 131.15 High Sept 21
*PREVIOUS CLOSE: 131.07
*SUP 1: 131.05 Hourly support Sept 21
*SUP 2: 130.94 55-DMA
*SUP 3: 130.90 Low Aug 16
*SUP 4: 130.68 Low Aug 3
*COMMENTARY: The sell-off from 131.98 is now finding support at the 55-DMA and
ahead of the key 130.90 support. Bears continue to look for a close below 130.90
to confirm a break of the 55-DMA, ending bullish hopes and shifting immediate
focus to 130.53-68. O/S studies and the Bollinger base (131.04) are key concerns
for bears. Bulls now need a close above 131.20 to gain breathing room and above
131.32 to shift focus to 131.50-64.
SCHATZ TECHS: (Z17) Increased Risk Of Bounce To 112.145-170
*RES 4: 112.205 High Sept 14 
*RES 3: 112.170 21-DMA 
*RES 2: 112.145 High Sept 19 
*RES 1: 112.115 High Sept 21
*PREVIOUS CLOSE: 112.100
*SUP 1: 112.077 Bollinger band base 
*SUP 2: 112.065 Low Sept 21 
*SUP 3: 112.023 55-DMA 
*SUP 4: 112.015 Low Aug 17
*COMMENTARY: The lack of follow through courtesy of the Bollinger band base is a
concern for bears and increases the risk of a correction back to 112.145-170.
Bulls now need a close above 112.115 to ease immediate bearish pressure and
above the 21-DMA to shift focus back to 112.268-285 where the 100-DMA and Sept
highs are noted. Overall bears need a close below 112.015 to confirm a break of
the 55-DMA and initially target 111.945.
GILT TECHS: (Z17) Above 123.89 To Gain Breathing Room
*RES 4: 124.91 Low Sept 14 now resistance 
*RES 3: 124.65 High Sept 19 
*RES 2: 124.36 High Sept 20 
*RES 1: 123.89 Hourly support Sept 20 now resistance
*PREVIOUS CLOSE: 123.70
*SUP 1: 123.36 Low Sept 21 
*SUP 2: 123.17 Low Feb 2 
*SUP 3: 122.60 2017 Low Jan 26 
*SUP 4: 121.64 Low June 23 2016
*COMMENTARY: Losses have continued this week following the failure to retake the
124.65-125.21 resistance region with current bearish focus on 122.60-123.17.
Very O/S daily studies looking to correct remain the key concern for bears.
Layers of resistance are building with bulls now needing a close above 123.89 to
gain breathing room and above 125.21 to shift focus back to 125.88-126.37 where
21, 55 & 100-DMAs are situated.
SHORT-STERLING TECHS: (H18) 99.230 Support Now Key
*RES 4: 99.450 Low Sept 13 now resistance
*RES 3: 99.410 High Sept 15
*RES 2: 99.390 Monthly Lows June 30 now resistance
*RES 1: 99.360 Highs Sept 18 & 19
*PREVIOUS CLOSE: 99.330
*SUP 1: 99.310 Low Sept 20
*SUP 2: 99.230 High June 21 2016 now support
*SUP 3: 99.110 Monthly Low June 23 2016
*SUP 4: 99.040 Monthly Low May 31 2016
*COMMENTARY: Losses have continued for H18 this week with bearish focus now on
99.230 with a close below needed to target 98.980-99.040 where Apr & May 2016
lows are situated. Very O/S studies and the Bollinger base (99.295) remain key
concerns for bears. Initial resistance is noted at 99.360 with bulls needing a
close above to gain breathing room. A close above 99.410 shifts focus back to
the 200-DMA (99.509).
EURIBOR TECHS: (H18) Below 55-DMA To Pressure 100-DMA
*RES 4: 100.330 - High Oct 19 
*RES 3: 100.325 - 2017 High Sept 5-8 
*RES 2: 100.320 - Repeated Daily highs 
*RES 1: 100.313 - 21-DMA
*PREVIOUS CLOSE: 100.305
*SUP 1: 100.305 - Repeated daily lows Aug
*SUP 2: 100.300 - Alternating daily support/resistance
*SUP 3: 100.299 - 55-DMA
*SUP 4: 100.286 - 100-DMA
*COMMENTARY: Topside hesitation ahead of recent 2017 highs took its toll with a
close below 100.310 that confirmed an easing of bullish pressure and sees focus
on the 55-DMA. Bears look for a close below the 55-DMA to initially pressure the
100-DMA and below 100.275 to shift focus to the 200-DMA (100.256). Bulls need a
close above the 21-DMA to return initial focus to 100.320-325. The Bollinger
base (100.302) is the key concern for bears.
US 10-YR FUTURE TECHS: (Z17) Bears Focused On July Low
*RES 4: 126-090 - High Sept 18 
*RES 3: 126-020 - 55-DMA 
*RES 2: 125-300 - Low Sept 19 now resistance 
*RES 1: 125-270 - 100-DMA
*PRICE: 125-230 @ 0430GMT
*SUP 1: 125-170 - Low Aug 8 & Sept 20
*SUP 2: 125-040 - Low July 26 
*SUP 3: 124-280 - Low July 12, Daily Bear channel base
*SUP 4: 124-140 - Monthly Low July 6
*COMMENTARY: The sell-off from 127-280 resulted in closes below the 100-DMA &
55-WMA (125-260) this week with immediate focus on the 125-170 support and
overall focus on 124-140 July lows. O/S daily studies and the Bollinger base
(125-150) remain key concerns for bears. In saying that, layers of resistance
remain with bulls still needing a close above 125-300 to ease bearish pressure
and above 126-090 to hint at a correction to 126-270.
US 10-YR YIELD TECHS: 2.208-246 Support Key
*RES 4: 2.337 - Repeated Daily Highs July 
*RES 3: 2.330 - 200-DMA 
*RES 2: 2.290 - High Aug 4 
*RES 1: 2.287 - High Sept 20
*PRICE: 2.259 @ 0430GMT
*SUP 1: 2.246 - High Sept 19 now support, Low Sept 21 
*SUP 2: 2.222 - Low Sept 19 
*SUP 3: 2.208 - Low Sept 18 
*SUP 4: 2.171 - Hourly resistance Sept 13 now support
*COMMENTARY: The closes above 55 (2.230) & 100 (2.238) DMAs adds to bullish
confidence with immediate focus now on 2.290. Bulls need a close above to
confirm immediate focus on 2.330-337 where the 200-DMA and daily highs are
located. O/B studies and the Bollinger top (2.298) are key concerns for bulls.
Layers of support are accumulating with bears still needing a close below 2.246
to ease bullish pressure and below 2.208 to shift focus lower.
EUROSTOXX50 TECHS: Above 3555.37 To Focus On 3615.06 
*RES 4: 3581.43 High June 26 
*RES 3: 3565.89 Bollinger band top 
*RES 2: 3555.37 High June 29 
*RES 1: 3546.56 High Sept 21
*PREVIOUS CLOSE: 3539.59
*SUP 1: 3536.70 Hourly support Sept 21 
*SUP 2: 3520.72 Low Sept 20 
*SUP 3: 3506.61 Low Sept 13 
*SUP 4: 3497.29 High Aug 16 now support
*COMMENTARY: Hesitation ahead of 3539.48 came to an end Thursday with bulls now
looking for a close above 3555.37 to confirm initial focus on 3615.06 and
overall focus on 2017 highs. Momentum divergence and O/B studies remain the key
concern for bulls. Support layers are accumulating with bears needing a close
below 3536.70 to gain breathing room and below 3497.29 to shift initial focus
back to 3441.49-3471.83 where key DMAs are clustered.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
To read the full story
Close
Why MNI
MNI is the leading provider
 of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        window.dataLayer.push({
    'event' : 'logedout',
    'loggedOut' : 'loggedOut'
  });
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        (function appendPosts () {  
    var policyPosts = document.getElementsByClassName('policy-posts-wrapper')[0];
    var policyPostsMenu = document.querySelector('.policy-posts-span');
    policyPostsMenu.append(policyPosts);
    policyPosts.style.display = "block";
  
    var empolicyPosts = document.getElementsByClassName('em-policy-posts-wrapper')[0];
    var empolicyPostsMenu = document.querySelector('.em-policy-posts-span');
    empolicyPostsMenu.append(empolicyPosts);
    empolicyPosts.style.display = "block";

    var dataPosts = document.getElementsByClassName('data-posts-wrapper')[0];
    var dataPostsMenu = document.querySelector('.data-posts-span');
    dataPostsMenu.append(dataPosts);
    dataPosts.style.display = "block";
})();
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelectorAll(".my-mni").forEach(function(item){
  item.href="/core/users/email_login/";
  item.innerHTML="Log In";
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelector('.signup-form').addEventListener('submit', () => {
  window.dataLayer = window.dataLayer || [];
  dataLayer.push({
    'event' : 'submission_click',
    'event_category': "Sign Up Button Clicks",
     'event_label': "Posts" 
  });  
  
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){
  item.onsubmit=function(e){
    ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15});
    window.dataLayer = window.dataLayer || [];
    dataLayer.push({
      'event' : 'signup_click',
      'event_category': "Signup",
      'event_action': 'CompletedForm',
       'event_label': 'pageTitle',
      'event_value': 15
    });  
  }
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelectorAll("img").forEach(function (img) {
    img.addEventListener("contextmenu", function (e) {
      return false;
    });
  });
  document
    .querySelector(".site-logo img")
    .addEventListener("contextmenu", function (e) {
      return true;
    });
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        document.querySelector('.signup-form').addEventListener('submit', () => {
  window.dataLayer = window.dataLayer || [];
  dataLayer.push({
    'event' : 'submission_click',
    'event_category': "Sign Up Button Clicks",
     'event_label': "Posts" 
  });  
  
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        REBELMOUSE_STDLIB.createElementChangeListener('.signup-form.authentication--form',function(item){
  item.onsubmit=function(e){
    ga('b.send', 'event', {eventCategory: 'Signup', eventAction: 'CompletedForm', eventLabel:'pageTitle', eventValue:15});
    window.dataLayer = window.dataLayer || [];
    dataLayer.push({
      'event' : 'signup_click',
      'event_category': "Signup",
      'event_action': 'CompletedForm',
       'event_label': 'pageTitle',
      'event_value': 15
    });  
  }
})
    

});

window.REBELMOUSE_TASKS_QUEUE.push(function(){

    
        
  let posts = document.querySelectorAll(".all-content-wrapper .widget:not(.stream-story-processed)");
  window.check_story_posts(posts, "streamOfPosts");
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        function populateInputsWithAPAPI(c) {
  document.querySelectorAll('.signup-form input[name="country"]').forEach(el => {
	el.setAttribute("value", c.country_name);
  });
  document.querySelectorAll('.signup-form .country_name').forEach(el => {
	el.setAttribute("value", c.country_name);
  });

  let country_code =
    c && c.country_code ? c.country_code.toLowerCase() : "auto";
  document.querySelectorAll('.signup-form .country_code').forEach(el => {
	el.setAttribute("value", country_code);
  });
  document.querySelectorAll('.signup-form .selected_country').forEach(el => {
	el.setAttribute("value", country_code);
  });
}

const fetch = function (err, res) {
  var r = new XMLHttpRequest();
  r.open("GET", err, !0),
    (r.responseType = "json"),
    (r.onload = function () {
      var err = r.status;
      res(200 === err ? null : err, r.response);
    }),
    r.send();
};

function setupCountry() {
  if (window.preventDuplicateExec) {
    return;
  }
  window.preventDuplicateExec = true;

  window.REBELMOUSE_STDLIB.onElementInViewport({
    threshold: 0,
    firstOnly: true,
    oneTime: true,
    selector: ".signup-form",
    onIntersect: (entry) => {
      // when you need to get access to that data you call it in that way:
      let ipapiData = localStorage.getItem("ipapiData");
      if (!ipapiData) {
        fetch("https://ipapi.co/json/", function (err, ipData) {
          console.log("populating inputs with data from IP API ");
          localStorage.setItem("ipapiData", JSON.stringify(ipData));
          populateInputsWithAPAPI(ipData);
        });
      } else {
        console.log(
          "populating inputs with data from IP API data stored in local storage"
        );
        populateInputsWithAPAPI(JSON.parse(ipapiData));
      }
    },
  });
}

setupCountry();
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        /*
const sidebar = document.querySelector('.left-sidebar-container');
const stickyContent = document.querySelector('.sticky-content');
const siteContent = document.querySelector('.all-posts-stream');
if (sidebar && stickyContent && siteContent) {
  if (siteContent.clientHeight > sidebar.clientHeight) {
    console.log('grater -> ', siteContent.clientHeight + ' > ' + sidebar.clientHeight);
    stickyContent.style.height = (siteContent.clientHeight - sidebar.clientHeight) + 'px';
  }
}
*/
    

});

window.REBELMOUSE_LOW_TASKS_QUEUE.push(function(){

    
        function populateInputsWithAPAPI(c) {
  document.querySelectorAll('.signup-form input[name="country"]').forEach(el => {
	el.setAttribute("value", c.country_name);
  });
  document.querySelectorAll('.signup-form .country_name').forEach(el => {
	el.setAttribute("value", c.country_name);
  });

  let country_code =
    c && c.country_code ? c.country_code.toLowerCase() : "auto";
  document.querySelectorAll('.signup-form .country_code').forEach(el => {
	el.setAttribute("value", country_code);
  });
  document.querySelectorAll('.signup-form .selected_country').forEach(el => {
	el.setAttribute("value", country_code);
  });
}

const fetch = function (err, res) {
  var r = new XMLHttpRequest();
  r.open("GET", err, !0),
    (r.responseType = "json"),
    (r.onload = function () {
      var err = r.status;
      res(200 === err ? null : err, r.response);
    }),
    r.send();
};

function setupCountry() {
  if (window.preventDuplicateExec) {
    return;
  }
  window.preventDuplicateExec = true;

  window.REBELMOUSE_STDLIB.onElementInViewport({
    threshold: 0,
    firstOnly: true,
    oneTime: true,
    selector: ".signup-form",
    onIntersect: (entry) => {
      // when you need to get access to that data you call it in that way:
      let ipapiData = localStorage.getItem("ipapiData");
      if (!ipapiData) {
        fetch("https://ipapi.co/json/", function (err, ipData) {
          console.log("populating inputs with data from IP API ");
          localStorage.setItem("ipapiData", JSON.stringify(ipData));
          populateInputsWithAPAPI(ipData);
        });
      } else {
        console.log(
          "populating inputs with data from IP API data stored in local storage"
        );
        populateInputsWithAPAPI(JSON.parse(ipapiData));
      }
    },
  });
}

setupCountry();
    

});